Tag Archives: Offshore

Iran hopes to increase output to 55.000-60.000 barrels per day in the second phase of production from the South Pars crude oil layer.

The amount of the country’s gas production has increased tremendously in the past three years.

Karan holds an estimated 9.6 billion barrels of in-place oil.

Iran and Kuwait are taking steps to reach an understanding to develop Arash Gas Field in the Persian Gulf.

Iran would start oil extraction from South Pars by the end of the current fiscal year.

It is estimated that the Iranian section of the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensates in place.

Iran has made inroads in its oil and gas exploration sector with discoveries of 13 oil and gas reservoirs over the past three years.

Iran currently draws 480 mcm d of gas from South Pars which it shares with Qatar.

The company is expected to launch the platform of Phase 22 of the gas field which is shared by Iran and Qatar by June.

Gas production at phases 19. 20 and 21 will reach full capacity by the end of the current Iranian calendar year.